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ROCHESTER GAS & ELECTRIC REPORTS FOURTH QUARTER RESULTS

 ROCHESTER, N.Y., Jan. 22 /PRNewswire/ -- Rochester Gas & Electric Corporation (NYSE: RGS) (RG&E) today reported earnings for the three and 12 month periods ending Dec. 31, 1992. For the 1992 fourth quarter, total operating revenues, including sales to other utilities, were $244,290,000, up $14,959,000, or about six percent from 1991 fourth quarter revenues of $229,331,000.
 Earnings applicable to common stock for the fourth quarter were $27,073,000, an increase of $14,606,000 from the comparable period in 1991. Earnings per common share were 77 cents in the fourth quarter of 1992, compared to 38 cents in the fourth quarter of 1991. The increase is largely attributable to two factors: the fourth quarter 1991 fuel procurement audit disallowance, which reduced earnings for the 1991 quarter by 21 cents per share, and accounting recognition in the 1992 fourth quarter of proceeds received in settlement of lawsuits related to construction of the Nine Mile Two nuclear plant, which increased earnings per share by 10 cents. Earnings per share also benefited from colder weather, which increased gas sales, as well as electric and gas rate increases which became effective in July of 1992.
 For the 12-month period ended Dec. 31, 1992, total operating revenues were $895,532,000, compared with 1991 revenues of $853,270,000, an increase of $42,262,000, or about five percent. Earnings applicable to common stock for the 12-month period ended Dec. 31, 1992 were $62,149,000, compared with $51,034,000, an increase of $11,115,000, or about 21 percent. Per share earnings on common stock for the 1992 12- month period were $1.86, compared to $1.60 a year earlier.
 Earnings for the 12 month period ended Dec. 31, 1992 were up by 26 cents per share despite the disallowance of $8.2 million of costs associated with the March 1992 ice storm, which was recognized in the second quarter of 1992. The increase in earnings per share is attributable to settlement of the Nine Mile Two lawsuits, and the 21 cents per share, net of tax, reducttions benefited from weather in 1992 that was 13.6 percent colder than 1991, resulting in an increase in gas sold and transported of 11.8 percent. Growth in electric energy sales was offset by decreased air conditioning use during the cool summer months. As a result, kilowatt-hour sales of electricity to customers for the 12 months of 1992 were nearly flat, despite the addition of more than 2,400 customers during the year.
 ROCHESTER GAS AND ELECTRIC CORPORATION
 EARNINGS REPORT
 FOR THE PERIODS ENDED December 31
 3 MONTHS 1992 1991
 OPERATING REVENUES $244,290,000 $229,331,000
 NET INCOME 29,146,000 14,911,000
 EARNINGS APPLICABLE TO COMMON STOCK 27,073,000 12,467,000
 AVERAGE SHARES OUTSTANDING 34,740,025 32,044,431
 EARNINGS PER SHARE $.77 $.38
 12 MONTHS 1992 1991
 OPERATING REVENUES $895,532,000 $853,270,000
 NET INCOME 70,439,000 57,997,000
 EARNINGS APPLICABLE TO COMMON STOCK 62,149,000 51,034,000
 AVERAGE SHARES OUTSTANDING 33,258,191 31,794,163
 EARNINGS PER SHARE $1.86 $1.60
 -0- 1/22/93
 /CONTACT: Mike Power of Rochester Gas & Electric, 716-724-8828/
 (RGS)


CO: Rochester Gas & Electric Corporation ST: New York IN: UTI SU: ERN

KK -- CL001 -- 7785 01/22/93 09:34 EST
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Date:Jan 22, 1993
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